Import Prices Drop; 6th Straight Month Of Dis-Inflation

While modestly better than expected, Import Prices fell 1.5% year-over-year, down from a 1.3% year-over-year drop for December. This is the sixth month in a row of year-over-year drops in import prices and perhaps even more notably, the last 20 months have seen only 2 months of year-over-year price gains as the Japanese deflation ogre spreads around the world.